The seed market was valued at $54,469 million in 2016, and is expected to reach at $68,711 million in 2023, growing at a CAGR of 3.4% from 2017 to 2023. Seed is a small embryonic plant enclosed within a covering known as seed coat. Seed formation completes reproduction process in plants with the development of the embryo from zygote and seed coat from ovule integuments. Seed serves numerous functions for plants such as nourishment of the embryo, dormancy during unfavorable conditions, and dispersal to a new location. Larger food reserves present in the seed helps the seed grow faster as compared to sporeling from a spore. Hybridization, molecular marker-assisted breeding, and gene insertion technologies are some of the agricultural market developments, which expected to boost the growth of the seed industry.

Necessity to increase food production, sophistication of seed technologies such as seed pelleting & seed coating, new product offerings, and growth in usage of biofuels & animal feed are the major factors that drive the market growth globally. In addition, modernization of agriculture and increase in land reclamation for agricultural purposes supplement the market growth. Asia-Pacific is expected to grow at the highest CAGR during the forecast period due to growth in population and rise in demand for new & enhanced agricultural products. Introduction of special schemes to increase productivity in the region resulted in surge in usage of quality seeds that provide high yield. Market liberalization to ensure proper availability of high-quality & high-yielding seeds to Indian farmers and flexibility of norms while exporting products to overseas play a crucial role in growth & development of the market. However, extensive research & prolonged approval time involved in the development of enhanced seed varieties with novel traits and lower acceptance of GM crops in various countries limit the market growth. Technological innovation and diversified demand for various crops in developing economies are anticipated to provide lucrative opportunities for market expansion.

The seed market is segmented on the basis of type, crop, availability, seed treatment, seed trait, and geography. According to type, the seed market is divided into genetically modified (GM) seed and conventional seed. Based on crop, it is classified into field crops and fruits & vegetable crops. Field crops segment is further categorized into cotton, corn, rice, wheat, millet, sunflower, and sorghum. Fruits & vegetable crops segment is subsegmented into tomato, okra, chilli, melon, gourds, cabbage, cauliflower, cucumber, and others (eggplant, pumpkin, radish, and carrot). Based on availability, the market is bifurcated into commercial seeds and saved seeds. According to seed treatment, it is classified into treated and untreated. On the basis of seed trait, it is divided into herbicide tolerant, insecticide resistant, and other stacked traits. Geographical breakdown of the market includes North America, Europe, Asia-Pacific, and LAMEA.

In May 2016, S&W Seed Company acquired SV Genetics Pty, Ltd., an Australian manufacturer of proprietary sunflower and sorghum seed, to expand their existing product portfolio and widen their geographical reach.

Major players operating in this market include the following:

Advanta Limited

Bayer CropScience AG

DLF Seeds A/S

DOW Agrosciences LLC

E.I Du Pont De Nemours and Company

Groupe Limagrain Holding SA

KWS AG

Land O' Lakes, Inc.

Sakata Seed Corporation

Syngenta AG

KEY BENEFITS

This report provides a quantitative analysis of the current trends and estimations from 2017 to 2023 of seed market, which assists to identify the prevailing market opportunities.

Major countries in each region are mapped according to individual market revenue.

Comprehensive analysis of factors that drive and restrict the growth of the market is provided.

An in-depth analysis of current research and clinical developments within the market is provided with key dynamic factors.

Leading players and their key developments in the recent years are listed.

KEY MARKET SEGMENTS

By Type

Genetically Modified (GM) Seed

Conventional Seed

By Crop

Field Crops

Cotton

Corn

Rice

Wheat

Millet

Sunflower

Sorghum

Fruit & Vegetable Crops

Tomato

Okra

Chilli

Melon

Gourds

Cabbage

Cauliflower

Cucumber

Others (Eggplant, Pumpkin, Radish and Carrot)

By Availability

Commercial Seeds

Saved Seeds

By Seed Treatment

Treated

Untreated

By Seed Trait

Herbicide Tolerant

Insecticide Resistant

Other Stacked Traits

By Geography

North America

U.S.

Canada

Mexico

Europe

UK

Germany

France

Spain

Italy

Rest of Europe

Asia-Pacific

China

Japan

India

Australia

South Korea

Rest of Asia-Pacific

LAMEA

Brazil

South Africa

Saudi Arabia

Turkey

Rest of LAMEA

KEY PLAYERS

Ajeet Seeds Private Limited

Ankur Seeds Pvt. Ltd.

Beijing Dabeinong Technology Group Co., Ltd.

China National Seed Group Corp.

Emerald Seed, Inc.

Gansu Dunhuang Seed Co., Ltd.

Henan Goldoctor Seeds Co., Ltd.

Jiangsu Dahua Seed Group Co., Ltd.

Kaveri Seed Company

Nuziveedu Seeds Ltd.

Nunhems Seeds Private Ltd.

Rallis India Limited

Rasi Seeds (P) Ltd.

Shriram Bioseed Genetics India Limited Company

S&W Seed Company

Takii & Co. Ltd.

(Companies mentioned above are not profiled in the report, but can be profiled upon client request)